COMMITMENT NOTE Sample Clauses
A Commitment Note is a legal document that formalizes a party's obligation to provide funding or fulfill a financial commitment under specified terms. Typically, it outlines the amount to be committed, the conditions under which the funds will be advanced, and any repayment or performance requirements. For example, in a loan transaction, the Commitment Note may detail the lender's promise to make funds available to the borrower upon satisfaction of certain conditions. Its core practical function is to provide clear evidence of a binding financial commitment, thereby reducing uncertainty and ensuring both parties understand their respective obligations.
POPULAR SAMPLE Copied 1 times
COMMITMENT NOTE. Upon the execution of this Agreement, the Company shall issue to the Investor a $15,000 Promissory Note, maturing six (6) months from execution, as a Commitment Note (“Commitment Note”). The Commitment Note shall be deemed earned upon the execution of this Agreement.
COMMITMENT NOTE. As a condition for the execution of this Agreement by the Investor, the Company shall issue to the Investor a note in the principal amount equal to $65,000 (the “Secured Note”) on the Execution Date.
COMMITMENT NOTE. As an inducement the Company shall issue to the Investor, a forty thousand dollar ($40,000) promissory note to offset transaction costs (“Commitment Note”). The Commitment Note shall be deemed earned upon the execution of this Agreement.
COMMITMENT NOTE. As a condition for the execution of this Agreement by the Investor, the Company shall issue to the Investor a convertible note in the principal amount equal to $60,000 (the “Note”) on the Execution Date.
COMMITMENT NOTE. In consideration for the Investor’s execution and delivery of this Agreement and the Registration Rights Agreement (the “Closing”), the Company shall deliver to the Investor, concurrently with the execution of this Agreement, a convertible promissory note, in substantially the form attached as Exhibit F (the “Commitment Note”), which note shall be convertible into shares of Common Stock (such shares of Common Stock, the “Note Shares”) on the terms and subject to the conditions set forth therein. For the avoidance of doubt, the Commitment Note and all of the Note Shares shall be fully earned as of the Closing Date, regardless of whether any Fixed Purchases, VWAP Purchases, or Additional VWAP Purchases are effected hereunder and regardless of any subsequent termination of this Agreement.
COMMITMENT NOTE. As a condition for the execution of this Agreement by the Investor, the Company shall issue to the Investor a convertible note in the principal amount equal to $50,000 (the “Note”) on the Execution Date.
COMMITMENT NOTE. The Company shall issue to the Investor a thirty-five thousand dollar ($35,000) convertible promissory note to offset transaction costs (“Commitment Note”). The first $20,000 of the Commitment Note shall be deemed earned upon the execution of this Agreement and the remaining $15,000 of the Commitment Note shall be deemed earned upon payment by the Investor of the Company’s legal fees in the amount of $15,000.
COMMITMENT NOTE. The Company shall issue to the Investor a fifty thousand dollar ($50,000) promissory note to offset transaction costs ("Commitment Note"). The Commitment Note shall be deemed earned upon the execution of this Agreement. SECTION IT INVESTOR'S REPRESENTATIONS, WARRANTIES AND COVENANTS The Investor represents and warrants to the Company, and covenants, that to the best of the Investor's knowledge:
1. SOPHISTICATED INVESTOR. The Investor has, by reason of its business and financial experience, such knowledge, sophistication and experience in financial and business matters and in making investment decisions of this type that it is capable of (1) evaluating the merits and risks of an investment in the Securities and making an informed investment decision; (II) protecting its own interest; and (III) bearing the economic risk of such investment for an indefinite period of time.
COMMITMENT NOTE. As a condition for the execution of this Agreement by Investor, the Company shall issue to Investor a note in the principal amount equal to $35,000 (the “Note”) on the Execution Date, in substantially the form attached as Exhibit B hereto (which Note provides that $10,000 of the principal balance and accrued interest thereon will be extinguished upon the Registration Statement initially being declared effective).
COMMITMENT NOTE. As a condition for the execution of this Agreement by the Investor, the Company shall issue to the Investor a Replacement Note 1 to Convertible Promissory Note dated December 11, 2015 (“Original Note”) previously signed by the Company in the principal amount equal to $120,000.00 (the Replacement Note 1 and the Original Note are collectively referred to as the “Note”) on the Subscription Date.